Merchants Bancorp (NASDAQ:MBIN) Sets New 12-Month Low - Here's Why

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $30.73 and last traded at $31.03, with a volume of 65840 shares. The stock had previously closed at $32.52.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MBIN. Morgan Stanley lowered their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Piper Sandler raised their price target on Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Raymond James dropped their price objective on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd.

Merchants Bancorp Stock Performance

The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 5.14 and a beta of 1.15. The firm's 50 day moving average price is $36.59 and its 200-day moving average price is $38.72. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. On average, analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.23%. This is a positive change from Merchants Bancorp's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 14th. Merchants Bancorp's payout ratio is currently 6.34%.

Insiders Place Their Bets

In other news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of the transaction, the insider now owns 27,606 shares in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 34.80% of the company's stock.

Institutional Trading of Merchants Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBIN. Kestra Investment Management LLC acquired a new stake in Merchants Bancorp during the fourth quarter valued at approximately $25,000. Cubist Systematic Strategies LLC bought a new position in shares of Merchants Bancorp during the 4th quarter worth approximately $79,000. Bank of Jackson Hole Trust acquired a new stake in Merchants Bancorp in the 4th quarter valued at $82,000. Matrix Trust Co grew its position in Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company's stock valued at $96,000 after acquiring an additional 2,324 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Merchants Bancorp by 118.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock worth $130,000 after acquiring an additional 1,933 shares in the last quarter. Institutional investors own 24.57% of the company's stock.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.